Hidalgo Mining (HMIT) Jump Starts Its Coal Sales Campaign As First Agreement is Received
Hidalgo Mining International (PINK SHEETS: HMIT), an innovative coal mining company headquartered in New York with coal properties located in Northern Mexico, announced today that it has received its first agreement for coal purchases through a Letter of Intent (LOI) submitted by the Intertrade Investment Group (IIG). Pursuant to the terms of the LOI, IIG has agreed to purchase 40K tons of coal on a monthly basis, resulting in nearly 500K annual tons of coal distribution and over $26.4M in immediate sales revenues.
As previously released, HMIT has formalized an agreement to receive $10M in capital funding which has provided the ability to begin coal mining on the aforementioned coal property. IIG will begin receiving over 40K monthly tons of coal at the present market value of $55.00 upon the extraction of quantitative amounts satisfying the figures requested in the LOI.
"We are thrilled to jump-start our sales campaign with the LOI submission by the Intertrade Investment Group. Although we have always anticipated healthy results from the announcement of our organization initializing production, we are always honored when an organization like IIG entrusts the Hidalgo Company for their coal needs. We are excited to begin our initial distribution with IIG and look forward to the receipt of many additional LOI’s as our National Sales Campaign treads forward," stated Jeff Bootes, CEO of Hidalgo Mining International.
ABOUT HIDALGO MINING INTERNATIONAL
Hidalgo Mining International (Pink Sheets: HMIT), an innovative coal mining company located in New York, NY, currently possesses over 50,000 acres of coal populated land located in Northern Mexico near the Texas border. Within an existing multi-billion dollar industry, HMIT strives to maintain corporate creditability while making aggressive moves to continue marketing its coal production on a global scale. HMIT management and directors hold an abundance of experience and knowledge in this rapidly growing industry that will ultimately result in the success of its ventures and longevity. Learn more about HMIT by visiting: (www.hidalgointernational.com)
Disclaimer:
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect Hidalgo Mining Internationals’ future plans. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hidalgo Mining International to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks detailed in Hidalgo Mining Internationals’ periodic report filings with the Securities and Exchange Commission. Hidalgo Mining International undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Hidalgo Mining Internationals’ expectations.